Manchester design startup snags $200,000 SBA loan

December 03. 2012 8:48PM
MANCHESTER - A product design and development firm with headquarters in the Millyard was the first recipient of a loan from a Small Business Association pilot program designed to enable direct lending in cities with a population of 25,000 or greater.

Helix Design, a full-service industrial design firm, was awarded a $200,000 SBA loan through the Intermediary Lending Pilot program, administered by the Capital Regional Development Council, based in Concord.

CRDC staff member Jennifer Boulanger said that Helix's financial needs met the program guidelines, which enable small businesses to use the loans for working capital, real estate or the acquisition of materials, supplies or equipment.

Some of the products designed at Helix include digital cameras, a video conferencing robot, water filtering systems and military gear.

The CRDC was recently awarded $1 million from the SBA, paid for by stimulus funds, for the pilot program. The New Hampshire program is among only 20 nationwide to share a $20 million budget. CRDC plans to lend $500,000 in 2013.

According to CRDC Executive Director Stephen Heavener, the loan program is great news for small cities like Manchester and Nashua.